Marginal increase in unemployment rate

Jamaica’s unemployment rate (LU1) was 5.4 per cent in January 2024, according to the Statistical Institute of Jamaica (STATIN) revised Labour Force Survey for the period.

The revised Survey incorporates recommendations from the 19th, 20th and 21st International Conferences of Labour Statisticians.

STATIN’s Deputy Director General, Leesha Delatie-Budair, presented the key indicators during Wednesday’s Media Launch of the Revised Survey and Press Briefing, at The Jamaica Pegasus hotel in New Kingston.

It should be noted that the January 2024 Labour Force Survey is not comparable with the January 2023 edition or those of any previous quarters, as the introduction of key changes has resulted in a break in the series.

For the period under review, there were 80,700 people who were without employment but were available and seeking work.

This is in keeping with the strict definition of unemployment, which has been adopted by STATIN.

To be classified as unemployed, an individual must meet three conditions – absence of employment, active jobseeking and availability for work.

The unemployment rate for males was four per cent while the out-turn for females was 7.1 per cent.

“When examined by age group, the unemployment rate was highest for youth at 16 per cent and lowest for persons 55 years or older, at 1.7 per cent. For those of prime working age, 25-55 years, the unemployment rate was 4.4 per cent,” Delatie-Budair shared.

In January 2024, there were 669,400 individuals outside the labour force. This group had a higher representation of females – 399,200, compared to males – 270,200.

Among those outside this cohort, 31,400 formed part of the potential labour force.

The potential labour force refers to persons looking for a job but not available or those available but not looking for a job.

Some 142,200 males and 146,600 females within the youth population were outside of the labour force.

Additionally, there were 100,700 youth who were categorised as ‘NEET’ – not employed, not enrolled in educational activities or currently in training.

Turning to other labour underutilisation rates, the combined rate of time-related underemployment and unemployment (LU2) was 7.3 per cent, representing the current unmet need for employment.

This includes people who have insufficient work time, meaning that they are employed but would like to work more hours, or individuals who are available and actively seeking work.

“In further assessing the labour underutilisation level, we saw 34,100 persons in the potential labour force and together with the unemployed, the combined rate of unemployment and the potential labour force (LU3) was 7.5 per cent. In January 2024, the combined rate of labour underutilisation (LU4) was 9.4 per cent, representing the proportion of persons who were in time-related underemployment, unemployment and those in the potential labour force,” she detailed.

Meanwhile, Delatie-Budair shared that in January 2024, there were 1,486,400 persons in the labour force, with an overall participation rate of 68.9 per cent.

The occupation group with the highest number of workers was ‘Services and Sales Workers’, with 328,600 employees, while the second largest was ‘Elementary Occupations’, which accounted for 197,900 people.

- JIS News

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